JERSEY CITY, N.J.--(BUSINESS WIRE)--Lord, Abbett & Co. LLC (“Lord Abbett”), an independent, privately held investment management firm, today announced new names for its multi-asset class mutual funds to reflect the sophisticated investment approach that these portfolios pursue. This change follows the recent reduction of the funds’ sales charges, made effective on November 1, 2013. Together, these changes demonstrate Lord Abbett’s ongoing commitment to providing investment strategies intelligently designed to help meet client needs in a cost-effective manner.
The Multi-Asset Class Strategies include the Lord Abbett Multi-Asset Income Fund (formerly Diversified Income Fund), the Lord Abbett Multi-Asset Balanced Opportunity Fund (formerly Balanced Strategy Fund), the Lord Abbett Multi-Asset Growth Fund (formerly Growth & Income Strategy Fund), and the Lord Abbett Multi-Asset Global Opportunity Fund (formerly Global Allocation Fund). Each strategy offers the flexibility to invest across multiple asset classes and the agility to make tactical shifts to hedge unwanted exposures and potentially gain from areas of opportunity, helping investors to navigate shifting markets.
“We actively position these portfolios to benefit from the market environment we anticipate,” said Steve Lipper, Investment Strategist at Lord Abbett. “We are currently positioning these portfolios for an environment that includes gradually rising bond interest rates, modest economic growth, and continued strength in U.S. equities.”
In the new schedule for the Multi-Asset Class Strategies, purchases of $500,000 and above are at NAV and have no sales charge. By lowering the cost of these mutual funds, Lord Abbett has made it easier for shareholders to benefit from a lower NAV breakpoint when using these funds on their own or with Lord Abbett fixed-income funds.
The following outlines Lord Abbett’s suite of Multi-Asset Class Strategies and new sales charge schedule:
| LORD ABBETT MULTI-ASSET CLASS STRATEGIES | |||||||||
|
Multi-Asset |
Multi-Asset |
Multi-Asset Growth |
Multi-Asset Global |
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| Seeks to capture income and return opportunities across a wide investment universe, including traditional and non-traditional asset classes | Seeks to balance long-term growth of capital and attractive income by capturing return opportunities across a wide variety of asset classes | Seeks to deliver long-term growth of capital by capturing return opportunities across a wide variety of asset classes | Seeks to deliver competitive total return by capturing opportunities across a wide variety of asset classes, both within and outside the United States | ||||||
| Single Purchase | Sales Charge (%) | ||||||
| Less than $100,000 | 2.25 | ||||||
| $100,000 to $249,999 | 1.75 | ||||||
| $250,000 to $499,999 | 1.25 | ||||||
| $500,000 and above | 0.00 | ||||||
For more information on Lord Abbett, Multi-Asset Class Strategies, or the full Sales Charge and Commission Schedule, please visit lordabbett.com.
About Lord Abbett
Lord, Abbett & Co. LLC is an independent, privately held firm that has maintained a singular focus on the management of money since 1929. As an investment-led, investor-focused firm, Lord Abbett’s approach is characterized by active management, rigorous research, comprehensive risk management, and client service that exceeds expectations. Lord Abbett manages approximately $137 billion in assets (as of December 31, 2013) across a full range of mutual funds, institutional and separately managed accounts, including $1.5 billion for which Lord Abbett provides investment models to managed account sponsors.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Lord Abbett Funds. This and other important information is contained in a fund’s summary prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord Abbett mutual fund, contact your investment professional or Lord Abbett Distributor LLC at 888-522-2388, or visit us at lordabbett.com. Read the prospectus carefully before investing.
Lord Abbett mutual fund shares are distributed by Lord Abbett Distributor LLC.
Shares of Lord Abbett mutual funds are not deposits or obligations of any bank, are not guaranteed by any bank, and are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of principal amount invested.
